Digital identity platform Signicat has acquired NFC-based identity verification solutions provider, Inverid, for an undisclosed sum.

Signicat has expanded its European footprint in recent years through organic investment and acquisition, strengthening its proprietary technology, customer base and market expertise.

Launched in 2014, Inverid’s flagship tool, ReadID, has since built a client list of 50 organisations spanning the public and private sectors, including governments, financial institutions and border control authorities. ReadID holds industry-recognised certifications including ISO27001, ISO27701, SOC2 Type II and eIDAS Level of Assurance High. In the past three years, with the backing of Main Capital, Inverid has made a series of investments in research and development, and in strengthening its go-to-market capabilities.

“By adding Inverid’s unique NFC-based solution to our platform, we can offer our customers the best possible document verification technology and unmatched identity solutions,” said Asger Hattel, CEO of Signicat. “This transaction demonstrates our commitment to remaining at the forefront of digital identity innovation, constantly striving to offer our customers still more effective tools to fight fraud while improving digitisation journeys for their end users.”

Maarten Wegdam, co-founder and CEO of Inverid, said the two organisations share the same culture and European foundations, adding: "The identity verification market is moving more towards integrated and secure solutions. By combining our identity verification technology with Signicat’s global platform and unique identity and orchestration solutions, we can support that growing market perfectly.”

---